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Report Date : |
16.05.2013 |
IDENTIFICATION DETAILS
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Name : |
KAEFER SAUDI
ARABIA |
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Registered Office : |
Nesma Building, Corniche
Street, P O Box 1498, Al Khobar 31952 |
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Country : |
Saudi Arabia |
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Date of Incorporation : |
16.05.2007 |
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Com. Reg. No.: |
2051034435, Al
Khobar |
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Legal Form : |
Limited Liability
Company |
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Line of Business : |
Insulation and
fire protection contractors |
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No. of Employees : |
800 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made on
e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Saudi Arabia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SAUDI ARABIA - ECONOMIC OVERVIEW
Saudi Arabia has an oil-based economy with strong government
controls over major economic activities. It possesses about 17% of the world's
proven petroleum reserves, ranks as the largest exporter of petroleum, and
plays a leading role in OPEC. The petroleum sector accounts for roughly 80% of
budget revenues, 45% of GDP, and 90% of export earnings. Saudi Arabia is
encouraging the growth of the private sector in order to diversify its economy
and to employ more Saudi nationals. Diversification efforts are focusing on
power generation, telecommunications, natural gas exploration, and
petrochemical sectors. Over 5 million foreign workers play an important role in
the Saudi economy, particularly in the oil and service sectors, while Riyadh is
struggling to reduce unemployment among its own nationals. Saudi officials are
particularly focused on employing its large youth population, which generally
lacks the education and technical skills the private sector needs. Riyadh has
substantially boosted spending on job training and education, most recently
with the opening of the King Abdallah University of Science and Technology -
Saudi Arabia's first co-educational university. As part of its effort to
attract foreign investment, Saudi Arabia acceded to the WTO in 2005. The
government has begun establishing six "economic cities" in different
regions of the country to promote foreign investment and plans to spend $373
billion between 2010 and 2014 on social development and infrastructure projects
to advance Saudi Arabia's economic development.
Source
: CIA
Company Name : KAEFER
SAUDI ARABIA
Country of Origin : Saudi
Arabia
Legal Form :
Limited Liability Company
Registration Date : 16th
May 2007
Commercial
Registration Number :
2051034435, Al Khobar
Issued Capital : SR
500,000
Paid up Capital : SR
500,000
Total Workforce : 800
Activities :
Insulation and fire protection contractors
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
KAEFER SAUDI ARABIA
Building : Nesma Building
Street : Corniche Street
PO Box : 1498
Town : Al Khobar 31952
Country : Saudi Arabia
Telephone : (966-3) 8974865 / 8875908
Facsimile : (966-3) 8974854 / 8875909
Email : info.ksa@kaefer.com
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Al Khobar.
Name Position
·
Rajan
Nair General
Manager
·
Shahid
Karol Procurement Manager
·
P Nandi Finance
Manager
Date of Establishment : 28/04/1428
Hijri (corresponding to 16th May 2007)
Legal Form :
Limited Liability Company
Commercial Reg. No. : 2051034435,
Al Khobar
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
·
Kaefer
Isolliertechnik GmbH 70%
Germany
·
Nesma
Holding Ltd 30%
Al Khobar
Tel: (966-3) 8974865
Activities: Engaged as insulation and fire protection
contractors.
Subject has a
workforce of approximately 800 employees.
Companies
registered in Saudi Arabia are not legally required to make their accounts
public and no financial information was released by the company or submitted by
outside sources.
·
National
Commercial Bank
PO Box: 1
Al Khobar 31952
Tel: (966-3) 8949669
Fax: (966-3) 8646474
No complaints
regarding subject’s payments have been reported.
During the course
of this investigation nothing detrimental was uncovered regarding subject’s
operating history or the manner in which payments are fulfilled. As such the
company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.78 |
|
|
1 |
Rs.83.38 |
|
Euro |
1 |
Rs.70.72 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.